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TIN - US , India Trade off | Harley Davidson Motorcycle issue | Mains Answer Writing 2018
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Aman Sharma is teaching live on Unacademy Plus

Aman Sharma
B.tech (ECE) , M.A(Sociology) STUDY IAS Newspaper Analyst | Motivational Speaker Knowledge, like air, is vital to life.

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  1. TOPIC IN NEWS How India, US duties trade off unacademy AMAN SHARMA


  2. TOPIC IN NEWS Aman Sharma VVERIFIED Follow B.tech (ECE), M.A(Sociology) The STUDY IAS guy. Knowledge, like air, is vital to life. Like air, no one should be denied it. SCIENC & TECHNOLOGY CURRENT AFFAIRS INDIA SINCE INDEPENDENCE COMPLETE COURSE INDIA SINCE INDEPENDENCE BIPAN CHANDRA 2018 By- AMAN SHARMA unacademy By Aman Sharma By Aman Sharma (Hindi) Complete Course India Since Independence Bipan.. (Hindi) May 2018-Science and Technology Current Affairs for.. 6 Lessons 5 Lessons <l AMAN SHARMA


  3. Together, India has hiked duty on 29 kinds of goods imported TOPIC IN NEWS from the US, following a similar move by the US on what it imports. What are these goods, and how much extra duty has India targeted with its move? US Imposes Duties India's exports up sharply India needs to worry If... US targets countries with which it has a trade deficit India's trade with the US (FY17) but volumes low Preliminary decision to impose duty on imported steel and aluminium April-December 2017, S million Steel Aluminium Aluminium exports Exports $42.2bn Imports $22.3bn Trade surpluS $19.9bn Iron & Steel 445.31 25% 10 ofInterrotterndia face higher tariff or other barriers 266.42 Exports in FY17, $ million Pharma products 228.98 217.55 5,098.25 2,052.14 1,696.17 2,39711 Pearls and stonesNuclear 9,734.37 reactors, bollers207112 Apparel, notknitted Whom does it impact the most? Biggest exporters to the US Apparel, knitted Textile made-ups Steel 1. Canada 2. Brazill 3.S Korea 4.Mexico 2016 2017 Global trade war breaks out Other countries raise tariffs global trade stalls Established supply chains are disrupted India faces dumping Steel and aluminium blocked What India can do Let other nations take lead on this Watch for dumping or steel Aluminium 1.canada 2.Russla 3.UAE 4.Chlna and aluminium Explore action within in the US begins to reach India Domestic industry could be the WTO AMAN SHARMA impacted adversely


  4. India-US duties trade off TOPIC IN NEWS FROMINDIA'S LIST (Out of 29items from USon which In a notification 20/06/2018 night, India hiked duty has hiled duties) PRODUCT EARLIERNOW on 29 items imported from the US. This was in retaliation against a US announcement in March imposing tariffs on steel and aluminium items- 25% and 10% respectively-imported from all countries except Canada and Mexico. What will be the effect of these moves? As per UN COMTRADE-WITS data sourced by the government, US imports steel items worth approximately $795 million and aluminium products 10% worth $424 million from India. The US move will help it collect an additional $241 million on imports rom from India-about S198.6 million from the duty on fitngs ofiron/steel steel products, and $42.4 million from the duty ontructures of iron/steel aluminium goods. Almonds Rs 35/kg Rs42/kg in shell Shelled Rs 100/kg Rs 120/kg almonds 10% 20% Diagnostic reagents 75% 120% Walnuts in shell Desi chana Ch Mosur Phosphoric add Boricacids Binders for foundry moulds Flat-rolled 30% V 10% 17.50% Tube orpipe Fabricated Geometrybox 15% 15% 15% 15% 27.50% 25% 25% 25% AMAN SHARMA


  5. India-US duties trade off TOPIC IN NEWS Balancing act Last week, India told the World Trade Organization (WTO) that it plans to increase the customs duty on 30 products imported from the US. It told the WTO that it has decided these additional duties in a way that it would help the government earn an additional $241 million. "India wishes to clarify that suspension of concessions shall be equivalent to the amount of trade affected by United States' measures. To this end, India reserves the right to adjust the specific products for which suspension of concessions is effectuated, and its right to adjust the additional rate of duty imposed on such products," India said. AMAN SHARMA


  6. India-US duties trade off TOPIC IN NEWS The motorcycle The 30 items listed by India included lentils, boric acid, fresh apples and shelled almonds. Another product listed was motorcycles with internal combustion engine capacity over 800 cc. On Wednesday, India left out such motorcycles and announced imposition of duties on the 29 other products. In the original list to the WTO, India had said it may impose an additional duty of 50% on such motorcycles. This measure was targeted at Harley-Davidson motorcycles. In an address to a joint session of Congress in 2017, US President Donald Trump had hinted at mistreatmentto companies such as Harley-Davidson by way of high import duties, up to 100% in some markets, but he did not name India. On February 26, days after India abruptly announced slashing of duties on imported motorcycles, Trump made it clear that he did not think these this was enough. These motorcycles constituted a small fraction of the overall trade involving the 30- product list. In 2017, India imported motorcycles (over 800 cc) worth $10.6 million. AMAN SHARMA


  7. India-US duties trade off TOPIC IN NEWS Almonds biggest Of the duty-hiked 29 products, the category that will bring in the highest additional duties is almonds that are fresh or dried in shell. According to Indian government estimates, India imported such almonds worth $580.63 million from the US in 2017. On Wednesday, India increased the duty from Rs 35 per kg to Rs 42. This means it will earn additional duty of $116.13 million from almonds in shell alone. The second biggest impact will involve fresh apples. India, which imported fresh apples worth $96.57 million from the US in 2017, has increased the import duty from 50% to 75%. The additional duty this will bring is estimated at $24.14 million. The product facing the third biggest impact will be diagnostic reagents, for which the duty has been doubled to 20%. AMAN SHARMA


  8. India-US duties trade off TOPIC IN NEWS BIGIMPACTS $116 million Estimatedadditional duty from almonds in shell $24 million Additional duty from freshapples from US Almonds biggest Of the duty-hiked 29 products, the category that will bring in the highest additional duties is almonds that are fresh or dried in shell. According to Indian government estimates, India imported such almonds worth $580.63 million from the US in 2017. On Wednesday, India increased the duty from Rs 35 per kg to Rs 42. This means it will earn additional duty of $116.13 million from almonds in shell alone. The second biggest impact will involve fresh apples. India, which imported fresh apples worth $96.57 million from the US in 2017, has increased the import duty from 50% to 75%. The additional duty this will bring is estimated at $24.14 million. The product facing the third biggest impact will be diagnostic reagents, for which the duty has been doubled to 20%. AMAN SHARMA


  9. India-US duties trade off TOPIC IN NEWS Way ahead Commerce and Industry Minister Suresh Prabhu went on a two-day visit to the US earlier this month to discuss these matters with top officials including Secretary of Commerce Wilbur Ross and United States Trade Representative Robert Lighthizer. On June 26-27, senior government officials of the two countries will hold meetings to discuss these matters further. AMAN SHARMA


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